| Id: | 10500 |
| Product: | finPOWER Connect |
| Type: | NEW |
| Version: | 1.06.03 |
| Opened: | 02/08/2012 |
| Closed: | 02/08/2012 |
| Released: | 17/09/2012 |
| Job: | J010130 |
 High Importance |
|
 Breaking Change |
|
Reversed Payments; change so reversing a payment holds Account Balance between original and reverse dates
At present, when a Payment is reversed the original reversed payment is not included in the Balance. This means the balance between the original payment and reversal dates does not decrease because of the payment.
finPOWER Connect has been changed so that during the period between the original payment and reversal the balance decreases by the payment value, ie the Account gets the credit for payment.
Note, only Reversed Payments can be dated on different days, other Transactions that are reversed always occur on the same date. For example, a payment made on 30/7 and reversed on 1/8, the balance on 31/7 will deduct the payment?
The original payment will allocate as per a normal payment, ie Fees, then Interest and finally Principal. The reversed payment will always allocate the same way, but with negative values.
In addition, the original payment can now be Reallocated via the Account Transaction Allocation Adjust wizard. This allows the payment to be manually overridden if necessary.
Note, if you prefer you may date the reversal the same date as the original Payment, and then the Account will not get credit for the payment.